While MRG Metals Limited (ASX:MRQ) continues exploration on various anomalies in its Corridor HMS district, it provided significant laboratory assay results from auger drilling on the Poiombo target within the Corridor South tenement. The results further underpin the significant potential for definition of a new high grade HMS resource at Poiombo.
- 12 of 31 Auger holes assayed consist of average downhole grade >4% TMH and 6 holes ended with final sample interval >5% THM.
- Results confirm the presence of a new high grade HMS target emerging at Poiombo that remains open to the northwest and southeast.
- They also confirm that the mineralised footprint extends to the west side of the main road and is up to 5km east-west.
- Additional auger drilling is planned to further define the Poiombo target mineralised footprint, particularly on the southeast side.
Chairman Mr Andrew Van Der Zwan states that the Company is on the verge of another discovery, evidenced by the very high grades intersected in strandline zones at surface and near surface.
Post release of these encouraging results, the MRQ stock leaped 40 % and quoted $ 0.007 at 11:42 AM AEST on 11 June 2020.